All Forum Posts by: Karl McGarvey

@NaTarrio Jones awesome! I have been looking for a local meetup on FB and nothing was popping up

@Daniel Kong The PM listing fee is also something I noticed, a full months rent for getting renters can almost nullify your cash flow for the year depending on your numbers. 

@Tyler Weaver thanks for the input! Like I said, these were things the books had not done any diving into yet

@Geordy Rostad Mostly looking at things like if I need them for an eviction, or setting up an LLC. Was not sure how much people actually see themselves spending out of pocket each year on things like that.

@Tyler Weaver $50/unit per month? (I want to assume this but that's what gets us into trouble haha)

Also a League City guy here. Brand new to REI, looking at entering our first deal early next year. Trying to learn as much as we can right now and connect with other people in the area that share our interests.

Also a League City newbie! Good luck in your venture.

Hey all!

So I have read a book or two, listened to probably a hundred podcasts, and everyone seems to have the same general idea of what you should be including for your expenses on your deals. 

Everyone also has the same general advice for you should be on your team to start making deals and capitalizing on real estate. 

One of the things I have noticed however, is that when people talk about building your team, they never talk about paying your team. Do you include lawyers fees, CPA fees, etc when you analyze deals? And if so, how do you approach trying to budget accurately. Essentially I am trying to prevent blowing all of our cashflow on paying my team so I want to make sure I am getting deals that allow for everyone to make money.

Looking forward to see what feedback this brings.

- Karl

Hey All! 

My wife and I are in what I am calling our "education" phase of the REI process. We currently live in League City TX and are looking to get into our first deal sometime around February. Have been contacted by a few wholesalers, everyone offering what they say are "good deals" and finding out very quickly that a good deal for someone else does not necessarily mean it is a good deal for you. Looking forward to learning as much as possible on the forums. Reach out if you are in our neck of the woods.

- Karl

 In 12 months I will!

 I dont have a property, was asking for learning purposes. Should have said that! But what you said makes complete sense, thank you!